Best 1.5% Cash Back Credit Cards (Ranked & Compared)

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Credit card rewards were first introduced in 1984 with the Diner's Club card. In the 1990s Discover and other issuers began offer cash back rewards, with 1% cash back becoming the industry standard. Today, credit cards that pay 1.5% cash back have become the new minimum standard.

They are ideal for those wanting a rewards card for everyday spending. These cards can also be part of a larger reward strategy using cards that pay even higher rewards in select categories. What follows is a list of the best 1.5% cash back cards currently available.

Summary of the Best 1.5% Cash Back Credit Cards

Chase Freedom Unlimited–Editor's Choice

The Chase Freedom Unlimited® offers card holders 1.5% cash back on all purchases. Unlike the other cards in this list, however, cardholders can also earn bonus cash back in several categories:

• 5% cash back on travel purchased through Chase
• 3% cash back at restaurants, including takeout and eligible delivery services;
• 3% cash back at drugstores.

New cardholders can also earn a higher signup bonus than offered by most of the cards on the list. It has a 0% Intro APR for 15 months months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%. There's also no annual fee. Finally, note that rewards can be redeemed for cash or Chase Ultimate Rewards points. As points, they can be transferred to the Chase Sapphire Preferred or Reserve card to take advantage of the bonuses those cards offer when you redeem points for travel.

It makes the top of our list because it generates the most cash back for the most consumers. You'll see a comparison of all of the cards potential cash back rewards below.

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card, another 1.5% cash back card offers several redemption options. When the time comes to redeem your rewards, you can do so by applying them to be statement credits, or Capital One can send you a check. The card comes with a signup bonus and a 0% APR on purchase. There is no annual fee. It's designed for those with good to excellent credit. 

Capital One QuicksilverOne Cash Rewards Credit Card

Capital One QuicksilverOne

Designed for those with fair credit, the Capital One QuicksilverOne Cash Rewards Credit Card still pays 1.5% cash back on everyday purchases. As such, it's one of the best credit cards for those with scores between 650 to 700. 

The card does charge an annual fee, but Capital One will consider new accounts for a credit limit increase in as little as six months. It offers no signup bonus and a high APR, but it doesn't charge foreign transaction fees. The card also comes with 0% Fraud Liability, and you can monitor your credit with the CreditWise app (which is free).

HSBC Cash Rewards Credit Card

The HSBC Cash Rewards Credit Card offers 1.5% cash back on all purchases. What sets it apart is that it pays twice this cash back rate–3%–for the first 12 months. It comes with a 0% introductory APR on purchases and balance transfers for 12 months, and charges no annual fee or foreign transaction fees.

American Express Cash Magnet® Card—Best Amex Option

The American Express Cash Magnet® Card offers its holders 1.5% cash back on purchases. The cash back is received in the form of Reward Dollars, which are redeemable as statement credits. It also includes a 0% APR for the first 15 months. Finally, you'll earn a welcome offer of $ after spending a minimum of $0 months. The card has no annual fee and is designed for those with good to excellent credit.

The offers unlimited 1.5% cash back on purchases. For the first year, Wells Fargo bumps up the rewards rate to 1.8% on qualified mobile wallet purchases. It also comes with a signup bonus and 0% introductory APR on purchases and balance transfers. The 0% on balance transfers sets this card apart from the 1.5% cards. 

Along with this card comes Zero Liability protection, 24/7 Fraud Monitoring, and Cell Phone protection. While this card does require good to excellent credit, (which most do), it also has a 3% Foreign Transaction Fee.

Bank of America® Travel Rewards Card

The Bank of America® Travel Rewards Card is not a true 1.5% cash back card. Cardholders do earn 1.5 points per dollar spent. The points, however, are only worth $0.006 each if redeemed for cash. So why did it make our list? Three reasons.

First, points are worth the industry standard $0.01 when redeemed for credit against travel or dining charged to the card. For those that spend in these categories enough to use all of the points, the fact that cash redemptions pay out at a lower rate becomes irrelevant.

Second, and related to the first point, it has a healthy signup bonus. It's higher than most other cards on the list.

Finally, for those who qualify for Bank of America's Preferred Rewards program, the card exceeds the 1.5% rewards rate. With Platinum Preferred rewards, the rate goes up to 2.62%. Keep in mind, however, that you need $100,000 at BofA or Merrill Edge and a BofA checking account to qualify for this top-tier rate.

Discover It® Miles Card

I have fond memories of carrying the Discover More Card back in the day. Rebranded Discover it, the Miles version is really a 1.5% cash back card. Cardholders earn miles, but they are redeemable for cash, to pay your Discover bill or as statement credit on travel purchases. The only reason to think of it as a travel card is that it miles can wipe out travel purchases going back 180 days. As Discover's terms and conditions make clear, however, “Any way you redeem, 1 Mile is the cash equivalent of 1 penny.”

I rank it in the middle of the cards on our list for a few reasons. First, it doesn't offer a signup bonus. Second, it doesn't offer elevated rewards for certain purchase categories. Third, the Discover network isn't as widely accepted as Visa or Mastercard. On the plus side, however, Discover does match the miles earned at the end of the first year, bringing the reward rate up to 3% for the first 12 months.

Earning Potential from a 1.5% Cash Back Credit Card

To estimate the earnings potential of each card, we made the following assumptions:

• $3,000 was charged to the card each month
• $300 of this amount was on travel purchased through Chase
• $250 of this amount was on dining, including delivery and takeout
• $100 of this amount was at drugstores
• $1,000 of this amount was paid using a digital wallet (Apple Pay, for example)
• Points or miles were redeemed for the highest value

The 1 Year column includes any signup bonuses or rewards matches. The 3 year column represents a cumulative total of the first three years. The 10 year column represents the amount of money earned if all rewards were saved and invested with an 8% annual return. We also subtract any annual fee from these results.

Credit Card	1 Year	3 Years	10-Year
Chase Freedom Unlimited	$929	$2,387	$10,992.49
Capital One Quicksilver	$690	$1,770	$8,146.58
Capital One QuicksilverOne	$501	$1,503	$7,257.77
HSBC Cash Rewards	$1,080	$2,160	$8,988.56
American Express Cash Magnet	$690	$1,770	$8,146.58
Wells Fargo Cash Wise Visa	$726	$1,806	$8,224.30
Bank of America® Travel Rewards Card	$790	$1,870	$8.362.47
Discover It® Miles	$1,080	$2,160	$8,988.56

Keep in mind that the above estimates make assumptions that may not apply to your specific circumstances. For example, you may charge more or less to the card, spend different amounts in different categories, or fail to spend enough to earn a signup bonus. The numbers do, however, provide a reasonable comparison between the 1.5% cash back cards on our list.

Chase tops our list with the most cash back rewards given the assumptions we made. Keep in mind that if paired with either the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, rewards could be even higher. The Chase Freedom Unlimited® generates Chase Ultimate Rewards points that can be transferred to other cards. When transferred to either the Preferred or Reserve card, you'll receive a 25% or 50% bonus if you redeem the points for travel purchased through Chase. We did not factor these bonuses into our rewards calculations.

How to Choose a 1.5% Cash Back Card

The cash back rewards are the most important factor. There are, however, other factors to consider when choosing the best option. Here are some factors to keep in mind.

Elevated Reward Categories

While all the cards pay the same base rate, some pay more than 1.5% in certain select categories. The Chase Freedom Unlimited® is a good example of this, which is why it's our top choice. The likewise pays a higher rewards rate on purchases made with a digital wallet, although this rate expires after 12 months.

Signup Bonus

Most of the cards on the list pay $150 after the spend requirement is satisfied. The majority of cards require you to spend $500 in the first 3 months, although some (American Express Cash Magnet® Card) require a $1,000 spend. The best options pay a higher signup bonus, as much as $200 (Chase Freedom Unlimited®).

0% APR

Virtually all of the cards on the list offer a 0% introductory APR on purchases, balance transfers or both. It's important to focus on how long the introductory rate lasts (12 to 15 months in most cases). For balance transfers, make sure to understand the fees that you'll incur (typically 3% of the amount transferred).

Annual Fee

Most 1.5% cash back cards don't charge an annual fee. As a result, these are great options for an everyday card, perhaps in conjunction with a travel rewards card.

Foreign Transaction Fees

If you plan to travel outside the U.S., consider wether the credit card charges foreign transaction fees. These can be as high as 2.7% or more of the amount of the purchase. Some of the cards on the list do not charge this fee.